It is very difficult to pull off a turnaround. This is because you typically start with a company that is unprofitable and lacking the resources to compete. You have employees who are still on the job only because they haven't been able to find another one, and you're selling products that few want to buy. To successfully execute a turnaround, you need heroic employees who are willing to step up despite the problems.
Source: http://ectnews.com.feedsportal.com/c/34520/f/632000/s/296e905d/l/0L0Stechnewsworld0N0Crsstory0C774720Bhtml/story01.htm
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